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Global Self Storage Reports Full Year 2025 Results
Accessnewswire· 2026-03-25 20:15
Global Self Storage Reports Full Year 2025 Results ELEMENT--Back to the NewsroomGlobal Self Storage Reports Full Year 2025 ResultsRecord Total Revenues, Same-Store Revenues and Net Operating Income with Sector-Leading Occupancy Driven by Continued Operational ExcellenceMILLBROOK, NY / ACCESS Newswire/ March 25, 2026 / Global Self Storage, Inc.(NASDAQ:SELF), a real estate investment trust that owns, operates, manages, acquires, and redevelops self-storage properties,reported results for the fourth quarter an ...
Global Self Storage(SELF) - 2025 Q4 - Annual Results
2026-03-25 20:10
EXHIBIT 99.1 Global Self Storage Reports Full Year 2025 Results Record Total Revenues, Same-Store Revenues and Net Operating Income with Sector-Leading Occupancy Driven by Continued Operational Excellence Millbrook, NY – March 25, 2026 – Global Self Storage, Inc. (NASDAQ: SELF), a real estate investment trust that owns, operates, manages, acquires, and redevelops self-storage properties, reported results for the fourth quarter and full year ended December 31, 2025. All comparisons are to the same year-ago p ...
Global Self Storage(SELF) - 2025 Q4 - Annual Report
2026-03-25 20:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-12681 GLOBAL SELF STORAGE, INC. (Exact name of registrant as specified in its charter) Maryland 13-3926714 (State or other jurisdict ...
Global Self Storage Declares First Quarter 2026 Dividend
Accessnewswire· 2026-03-02 21:15
MILLBROOK, NY / ACCESS Newswire / March 2, 2026 / Global Self Storage, Inc. (NASDAQ:SELF), a real estate investment trust that owns, operates, manages, acquires, and redevelops self-storage properties, has declared a cash dividend of $0.0725 per common share for the first quarter of 2026. The dividend is payable on March 31, 2026, to stockholders of record as of March 16, 2026. ...
DAILY JOURNAL CORPORATION ADDRESSES BUXTON HELMSLEY'S BRAZEN THREATS AND EXPOSES THE FIRM'S DISINGENUOUS, SELF-SERVING AGENDA
Globenewswire· 2025-12-26 14:00
Core Viewpoint - The Company has firmly rejected the allegations made by Buxton Helmsley USA, Inc. and its CEO, Alexander Erwin Parker, and has referred the matter to federal and state authorities for potential criminal prosecution [1][11]. Group 1: Allegations and Responses - Mr. Parker has accused the Company of improperly expensing software development costs that should be capitalized, claiming this would "unlock value" and demanding two board seats and a consulting contract worth an estimated $24 million [3][10]. - The Company has refuted Mr. Parker's accounting allegations, asserting that his claims are baseless and intended to harass and intimidate [4][10]. - The Company has consistently maintained that its financial statements and accounting practices are sound, with third-party expert reviews supporting its approach [17][23]. Group 2: Threats and Coercive Tactics - Mr. Parker has threatened Company directors with disciplinary referrals unless they comply with his demands, which the Company views as coercive and inappropriate [6][10]. - In his communications, Mr. Parker has made various threats, including reputational damage to directors if they do not support his agenda [8][10]. - The Company has documented these threats and intends to file them with the SEC for consideration of civil charges against Mr. Parker and BuHeUI [11][23]. Group 3: Governance and Future Actions - The Company has referred the matter to the SEC's Enforcement Division for potential civil charges related to the threats made by Mr. Parker [11]. - The Company is preparing to file its Annual Report on Form 10-K for Fiscal Year 2025, which will reflect its continued application of accounting standards consistent with past practices [17]. - The Board remains focused on acting in the best interests of the Company and its stockholders, rejecting any coercive tactics [23].
Global Self Storage Declares Fourth Quarter 2025 Dividend
Accessnewswire· 2025-12-01 21:15
Core Viewpoint - Global Self Storage, Inc. has declared a cash dividend of $0.0725 per common share for the fourth quarter of 2025, indicating a commitment to returning value to shareholders [1] Dividend Announcement - The declared cash dividend is $0.0725 per common share for Q4 2025 [1] - The dividend is scheduled to be payable on December 30, 2025 [1] - Stockholders of record as of December 15, 2025, will be eligible to receive the dividend [1]
Global Self Storage Stock Up Post Q3 Earnings, Occupancy Solid
ZACKS· 2025-11-12 15:51
Core Viewpoint - Global Self Storage, Inc. reported modest revenue growth but significant declines in earnings for the third quarter of 2025, highlighting a mix of record revenues and increased operational costs [2][10]. Financial Performance - Total revenues for Q3 2025 increased by 0.8% to $3.23 million from $3.20 million, primarily due to higher occupancy and effective revenue rate management [2]. - Net income fell by 58% to $0.5 million, or $0.04 per diluted share, compared to $1.2 million, or $0.10 per diluted share, in the same quarter last year [2]. - Funds from operations (FFO) decreased by 8% to $1 million, or $0.09 per diluted share, while adjusted FFO (AFFO) declined by 6% to $1.1 million, or $0.10 per diluted share [3]. Operational Metrics - Same-store revenues rose by 0.8% to a record $3.21 million, while same-store costs of operations increased by 7.4% to $1.24 million, resulting in a 2.9% decline in same-store net operating income (NOI) to $1.9 million [4]. - Same-store occupancy increased by 170 basis points year over year to 93.2%, with the average tenant duration reaching a record 3.5 years [5]. Year-to-Date Performance - For the first nine months of 2025, total revenues grew by 2.2% year over year to a record $9.5 million, with same-store NOI rising by 2.2% to a record $5.9 million [6]. - FFO increased by 7.5% to $3.1 million, or $0.27 per diluted share, and AFFO rose by 8.4% to $3.3 million, or $0.30 per diluted share [7]. Dividend and Capital Resources - The quarterly dividend was maintained at $0.0725 per share, corresponding to an annualized rate of $0.29 per share, with AFFO covering the dividend [8]. - Capital resources totaled approximately $24.8 million, including $7.5 million in cash and cash equivalents, $2.5 million in marketable securities, and $14.8 million available under the revolving credit facility [9]. Management Commentary - Management characterized the quarter as a blend of record revenues and sector-leading occupancy gains, despite higher costs [10]. - The company emphasized its focus on high-quality, long-term tenants in markets with limited new supply and less professional competition [10]. Strategic Initiatives - Global Self Storage is evaluating acquisition and development opportunities but did not close any during the quarter [16]. - The company maintained access to external growth capital through an at-the-market equity program, allowing it to issue up to $15 million of common stock [17].
Global Self Storage Reports Third Quarter 2025 Results
Accessnewswire· 2025-11-07 21:15
Core Insights - Global Self Storage reported record-high revenues and sector-leading occupancy growth for Q3 2025, driven by operational excellence and strategic marketing efforts [1][8][14]. Q3 2025 Highlights - Total revenues increased by 0.8% to a record $3.2 million, with same-store revenues also rising by 0.8% to the same amount [4][18]. - Net income decreased to $496,000 or $0.04 per diluted share, down from $1.2 million or $0.10 per diluted share in the same period last year [4][21]. - Same-store occupancy increased by 170 basis points to 93.2% from 91.5% year-over-year [4][20]. - Same-store average tenant duration reached a record-high of approximately 3.5 years, compared to 3.4 years in the previous year [4][20]. - Funds from operations (FFO) decreased by 8.0% to $1.0 million or $0.09 per diluted share [4][22]. - Adjusted FFO (AFFO) decreased by 6.0% to $1.1 million or $0.10 per diluted share [4][22]. First Nine Months 2025 Highlights - Total revenues for the first nine months increased by 2.2% to $9.5 million, compared to $9.3 million in the same period last year [23][26]. - Net income for the first nine months was $1.7 million or $0.15 per diluted share, down from $2.0 million or $0.18 per diluted share [25][29]. - Same-store revenues increased by 2.1% to $9.5 million [26]. - Same-store net operating income (NOI) increased by 2.2% to $5.9 million [27]. Dividend Information - The company declared a quarterly dividend of $0.0725 per share, consistent with the previous quarter and the same period last year, representing an annualized rate of $0.29 per share [5]. Company Strategy and Outlook - The objective of Global Self Storage is to enhance shareholder value through strategic acquisitions and expansion projects [6][12]. - Management expressed confidence in the company's operational performance and capital resources, which are expected to support the execution of its strategic business plan [7][12]. - The company is focusing on high-quality tenants and disciplined acquisition strategies to drive future growth [13].
Global Self Storage(SELF) - 2025 Q3 - Quarterly Results
2025-11-07 21:10
Financial Performance - Total revenues for Q3 2025 increased 0.8% to a record $3.2 million, driven by higher occupancy and effective revenue management [4] - Net income decreased to $496,000 or $0.04 per diluted share, down from $1.2 million or $0.10 per diluted share in the same period last year [17] - Funds from operations (FFO) decreased 8.0% to $1.0 million or $0.09 per diluted share, compared to $1.1 million or $0.10 per diluted share in Q3 2024 [22] - Adjusted FFO (AFFO) decreased 6.0% to $1.1 million or $0.10 per diluted share, down from $1.2 million or $0.10 per diluted share in the same period last year [22] - Same-store net operating income (NOI) decreased 3.0% to $1.97 million, primarily due to increased operating expenses [19] - Total revenues for Q3 2025 were $3,225,671, a slight increase from $3,200,276 in Q3 2024, representing a growth of approximately 0.8% [48] - Rental income for Q3 2025 was $3,099,499, compared to $3,070,871 in Q3 2024, indicating an increase of about 0.9% [48] - Same-store net operating income for Q3 2025 was $1,967,978, down from $2,028,542 in Q3 2024, reflecting a decrease of approximately 3% [49] - Net income for Q3 2025 was $496,259, significantly lower than $1,181,657 in Q3 2024, a decline of about 58% [48] Capital and Resources - Capital resources as of September 30, 2025, totaled approximately $24.8 million, including $7.5 million in cash and $14.8 million available under the revolving credit facility [17] - The company reported total assets of $64,836,337 as of September 30, 2025, a decrease from $65,515,024 at the end of 2024 [47] - Total liabilities decreased to $17,901,851 as of September 30, 2025, down from $18,077,347 at the end of 2024 [47] - The company’s accumulated deficit increased to $(2,982,329) as of September 30, 2025, compared to $(2,235,236) at the end of 2024 [47] Operational Strategy - The company maintained a quarterly dividend of $0.0725 per common share, consistent with the previous quarter and the same period last year [5] - Management remains focused on executing its strategic business plan, which includes growth through acquisitions and expansion in select markets [13] - The company operates 12 same-store properties as of September 30, 2025, with no non-same-store properties [42] Forward-Looking Statements - Adjusted funds from operations (AFFO) are not explicitly stated but are considered alongside net income and cash flows for a better understanding of operational results [39] - The company emphasizes that forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially [44] Occupancy and Market Performance - Same-store occupancy rose 170 basis points to 93.2% from 91.5% year-over-year, marking a sector-leading growth [20] - For the first nine months of 2025, total revenues increased 2.2% to $9.5 million, compared to $9.3 million in the same period last year [23]
Global Self Storage(SELF) - 2025 Q3 - Quarterly Report
2025-11-07 21:00
Company Operations - As of September 30, 2025, the company owned and operated thirteen self-storage properties across multiple states, including Connecticut, Illinois, and New York[105]. - The company managed one third-party owned property with 137,318 leasable square feet as of September 30, 2025[120]. - The company operates a total of 7,042 owned and managed stores with an average occupancy of 93.6%[154]. - Same-store occupancy increased by 1.7% to 93.2% as of September 30, 2025, compared to 91.5% in 2024[160]. - The overall square foot occupancy at period end was 93.2%, reflecting a 1.9% increase from the previous year[165]. - The net leased square footage at period end increased by 1.6% to 772,660 square feet compared to the previous year[165]. - As of September 30, 2025, the average tenant duration of stay was approximately 3.5 years, an increase from 3.4 years as of September 30, 2024[173]. Financial Performance - Total revenues increased by 0.8% from $3,200,276 in Q3 2024 to $3,225,671 in Q3 2025, with rental income rising by 0.9% from $3,070,871 to $3,099,499[124]. - Operating income decreased by 16.6% from $873,090 in Q3 2024 to $728,430 in Q3 2025[130]. - Net income for Q3 2025 was $496,259, or $0.04 per fully diluted share, down from $1,181,657, or $0.10 per fully diluted share in Q3 2024[133]. - Total revenues for the nine months ended September 30, 2025 increased by 2.2% to $9,546,353 from $9,343,354 in the same period of 2024[135]. - Operating income for the nine months ended September 30, 2025 increased by 8.6% to $2,281,023 from $2,099,994 in the same period of 2024[142]. Expenses and Costs - Operating expenses rose by 7.3% from $2,327,186 in Q3 2024 to $2,497,241 in Q3 2025, primarily due to increased store operating expenses and one-time general and administrative expenses[127]. - Business development costs surged from $2,012 in Q3 2024 to $22,286 in Q3 2025, reflecting increased activity in capital raising and potential acquisitions[129]. - Employment costs increased by 9.5%, or $32,831, for the three months ended September 30, 2025, primarily due to timing in routine employee hiring and departures[175]. - Administrative expenses rose by 25.5%, or $53,293, for the three months ended September 30, 2025, driven by increased utility and repair costs[177]. - Utilities expenses increased by 55.8%, or $34,631, for the three months ended September 30, 2025, influenced by energy prices and usage levels[179]. Financing and Capital Resources - The company raised approximately $6.7 million through a rights offering by selling 1,601,291 shares at a subscription price of $4.18 per share on December 18, 2019[111]. - On June 25, 2021, the company completed a public offering, raising approximately $6.9 million by selling 1,289,720 shares at a price of $5.35 per share[113]. - The company entered into a second amendment to its credit facility on July 6, 2024, allowing borrowing of up to $15 million, with an effective interest rate of approximately 7.3% as of September 30, 2025[117]. - The company has capital resources totaling approximately $24.8 million, including $7.5 million in cash and $14.8 million available for withdrawal under the credit facility[122]. - The company has a financing strategy focused on minimizing capital costs to maximize returns for stockholders[108]. Market and Securities - The closing market price as of September 30, 2025 was $5.03, down from $5.21 on September 30, 2024[134]. - As of September 30, 2025, the cumulative unrealized gain on marketable equity securities was $1,718,003, with unrealized losses of $98,704 and $135,497 for the three and nine months ended September 30, 2025, respectively[195]. - There were no realized gains or losses for the nine months ended September 30, 2025[195]. - The One Big Beautiful Bill Act (OBBB) enacted on July 4, 2025, relaxed the REIT asset test requirement, allowing up to 25% of a REIT's assets to be represented by securities of taxable REIT subsidiaries, increased from 20%[197]. Strategic Initiatives - The company plans to strategically withdraw proceeds from the second amended credit facility to fund acquisitions and expansions of self-storage properties[117]. - The company is actively reviewing store and portfolio acquisition candidates while also working on redeveloping and expanding current stores[189]. - The Millbrook, NY expansion added approximately 11,800 leasable square feet, with total area occupancy increasing from approximately 88.6% to 95.4% by June 30, 2021[190]. - The McCordsville, IN property conversion resulted in a new total of 535 units and 76,360 leasable square feet, with occupancy increasing from approximately 79.1% to 94.7% by June 30, 2021[191]. - In 2021, the Lima, OH property converted approximately 3,000 leasable square feet, resulting in a total of 756 units and 96,883 leasable square feet with an occupancy rate of approximately 94.8%[193]. - In January 2023, the Lima, OH property completed a conversion of approximately 2,500 leasable square feet, leading to a total of 767 units and 94,928 leasable square feet, with an occupancy rate of approximately 91.1%[194]. Performance Metrics - Same-store revenues rose by 0.8% ($24,921) for the three months and by 2.1% ($199,600) for the nine months ended September 30, 2025, versus the same periods in 2024[167]. - Same-store cost of operations increased by 7.4% for the three months and by 2.0% for the nine months ended September 30, 2025, compared to the same periods in 2024[160]. - Same-store net operating income (NOI) decreased by 3.0% for the three months but increased by 2.2% for the nine months ended September 30, 2025[160]. - The total annualized revenue per leased square foot was $16.60 for the three months ended September 30, 2025, a decrease of 0.8% from the previous year[163]. - The company attributes performance improvements to digital marketing initiatives and customer service efforts, enhancing local brand loyalty[161]. - FFO decreased by 8.0%, or $87,335, for the three months ended September 30, 2025, while it increased by 7.5%, or $214,297, for the nine months ended September 30, 2025[187]. - AFFO decreased by 6.0%, or $70,320, for the three months ended September 30, 2025, but increased by 8.4%, or $258,062, for the nine months ended September 30, 2025[188].